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The <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 <keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">EV</keyword> charging sites. Shailesh Chandra, President of <keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword> and Managing Director of Tata Motors Passenger Vehicles Ltd &amp; Tata Passenger Electric Mobility Ltd, expressed strong support for the government's forward-thinking initiative. Chandra said, "This forward-thinking initiative reflects the Government's unwavering support for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s transition to electric mobility, fostering innovation and investment within the sector. We beli<keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">ev</keyword>e this scheme will not only enhance the growth of the EV ecosystem but also strengthen <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s leadership in the global movement towards environmental sustainability." Dr Anish Shah, Group CEO &amp; MD, Mahindra Group also commended government's efforts, specifically highlighting the comprehensive nature of the PM e-DRIVE scheme. Shah said, "We applause the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country." M&amp;M noted that schemes like <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have already driven penetration of electric three-wheelers in India. "Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs. <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have helped in 20 per cent e-3W penetration in the country. With PM e-drive, we foresee India becoming the first country to achieve 100 per cent electrification in this segment by 2030", he added. The Union Cabinet, on Wednesday, cleared the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme,' with a total outlay of Rs 10,900 crore over two years. It includes Rs 3,679 crore in subsidies and demand incentives for e-2Ws, e-3Ws, e-ambulances, e-trucks, and other emerging electric vehicles. It is expected to support the deployment of 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, providing a significant push to India's EV ecosystem. A critical aspect of the scheme is the introduction of e-vouchers for EV buyers. At the time of purchase, an Aadhaar-authenticated e-voucher will be generated, which will enable buyers to avail of demand incentives. Additionally, the scheme allocates Rs 500 crore for the deployment of e-ambulances, marking a new initiative to integrate electric vehicles into essential public services. Another Rs 4,391 crore has been earmarked for the procurement of 14,028 e-buses, with a demand aggregation process led by CESL in nine major cities, including Delhi, Mumbai, and Bangalore. Intercity and interstate e-buses will also be supported in consultation with states. Furthermore, Rs 500 crore has been set aside to incentivize the adoption of e-trucks, a critical move given that trucks are one of the largest contributors to air pollution. The scheme encourages those with a scrapping certificate from <keyword id="19897457" type="General" weightage="20" keywordseo="ministry-of-road-transport" source="keywords">Ministry of Road Transport</keyword> and Highways-approved (MoRTH) vehicle scrapping centres to participate in this transition. With an allocation of Rs 2,000 crore, the scheme will support the installation of 22,100 fast chargers for four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for two- and three-wheelers. These chargers will be installed in cities with high EV penetration and along selected highways, making long-distance EV travel more viable.

Automobile industry hails PM e-DRIVE scheme to promote EVs

Domestic passenger vehicles wholesales posted a record in May at 3,34,247 units growing at 13.54 per cent as compared to the same month last year, riding on robust growth of utility vehicle sales, the <keyword id="82374" type="General" weightage="80" keywordseo="society-of-indian-automobile-manufacturers" source="Orion">Society of Indian Automobile Manufacturers</keyword> said on Tuesday. As per the latest data issued by <keyword id="1577311" type="General" weightage="80" keywordseo="society-of-indian-automobile" source="Orion">Society of Indian Automobile</keyword> Manufacturers (SIAM) dispatches of passenger vehicles (PVs) from manufacturers to dealers were at 2,94,392 units in May 2022. SIAM Director General <keyword id="217489" type="General" weightage="80" keywordseo="rajesh-menon" source="Orion">Rajesh Menon</keyword> said sales of passenger vehicles in May 2023 have been the highest ever witnessed for the month of May. Utility vehicle wholesales, excluding that of <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> which shares its numbers quarterly, grew by 33.5 per cent last month at 1,55,184 units, as compared to 1,16,255 units in the year-ago period. Two-wheeler domestic wholesales were at 14,71,550 units, as against 12,53,187 units in May last year, a growth of 17.42 per cent. Motorcycles sales grew by 20.63 per cent at 9,89,120 units last month, as compared to 8,19,940 units in May 2022, SIAM said. Scooter sales also rose 12.18 per cent at 4,46,593 units, as against 3,98,099 units in the year-ago month. Similarly, three-wheeler wholesales were higher at 48,732 units, as compared to 28,595 units in May 2022. Total vehicle dispatches across categories, excluding Tata Motors, were at 18,08,686 units as compared to 15,32,861 units in May 2022, SIAM said. "All the segments viz. passenger vehicles, two-wheelers and three-wheelers have posted growth in double-digits in May 2023, compared to May 2022. We anticipate this trend to continue supported by the prevalent economic environment," SIAM President <keyword id="230167" type="General" weightage="80" keywordseo="vinod-aggarwal" source="Orion">Vinod Aggarwal</keyword> SIAM said. Menon said while two-wheelers also posted a growth of 17.4 per cent in May 2023 compared to last year, the sales were "still lower than 2016-17 levels". He further said, "Domestic sales of three-wheelers in May 2023 grew by 70.4 per cent compared to May 2022, although on a low base, but still lower than the 2018-19 levels." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indigo-aircraft-suffers-tail-strike-on-arrival-at-delhi-airport/articleshow/100959637.cms">IndiGo aircraft suffers tail strike on arrival at Delhi airport</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/urja-global-mistaken-identity-with-musks-tesla-not-the-only-problem/articleshow/100958807.cms">Mistaken identity with Musk’s Tesla is not the only problem for this penny stock</a>

Passenger vehicle wholesales hit record in May at 3,34,247 units: SIAM

Passenger vehicle exports from <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> rose 15 per cent in FY23 with Maruti Suzuki India leading the segment with dispatches of over 2.5 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 6,62,891 units in 2022-23 fiscal as compared to 5,77,875 units in 2021-22. Passenger car shipments saw a 10 per cent growth at 4,13,787 units, while utility vehicle exports rose 23 per cent at 2,47,493 units during the last fiscal, the data by the <keyword id="1577311" type="General" weightage="50" keywordseo="society-of-indian-automobile" source="Orion">Society of Indian Automobile</keyword> Manufacturers (SIAM) showed. Exports of vans, however, declined to 1,611 units last fiscal, from 1,853 units in the 2021-22 fiscal year. Maruti Suzuki India (<keyword id="6392170" type="General" weightage="50" keywordseo="msi" source="Orion">MSI</keyword>) led the exports last fiscal in the passenger vehicle segment. It was followed by Hyundai Motor India and Kia India. MSI, the country's largest carmaker, exported 2,55,439 PVs last fiscal, an 8 per cent increase as compared to 2,35,670 units in the 2020-21 fiscal year. The carmaker exports to various markets, including Latin America, ASEAN, Africa, the Middle East and neighbouring regions. Hyundai Motor India's overseas dispatches stood at 1,53,019 units last fiscal, up 18 per cent from 1,29,260 units in 2021-22. Similarly, Kia India exported 85,756 units across global markets in the period under review as compared to 50,864 units in 2021-22. <keyword id="148574" type="General" weightage="50" keywordseo="nissan-motor-india" source="Orion">Nissan Motor India</keyword> shipped 60,637 units; Renault India 34,956 units; <keyword id="6361865" type="General" weightage="50" keywordseo="volkswagen" source="Orion">Volkswagen</keyword> India 27,137 units in FY23. Honda Cars India exported 22,710 units, while Mahindra &amp; Mahindra chipped in with 10,622 units in the 2022-23 fiscal. Overall automobile exports from India last fiscal stood at 47,61,487 units, down 15 per cent from 56,17,359 units in 2021-22. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/hdfc-hdfc-bank-merger-to-bring-inflows-of-up-to-3-billion-all-eyes-now-on-the-merger/articleshow/99557243.cms">HDFC-HDFC Bank merger to bring inflows of up to $3 billion: All eyes now on the merger</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/diesel-sales-jump-on-agricultural-demand/articleshow/99558562.cms">Diesel sales jump on agricultural demand</a>

Passenger vehicle exports from India rise 15% in FY23; Maruti Suzuki leads segment

Electric vehicles must be considered for priority lending by the government to accelerate their adoption, while sufficient funds must also be allocated for R&amp;D in a public-private partnership mode for development of batteries, industry body <keyword id="2746593" type="General" weightage="100" keywordseo="smev" source="Orion">SMEV</keyword> said on Thursday. In its Budget wish list, the <keyword id="481834" type="General" weightage="20" keywordseo="society-of-manufacturers-of-electric-vehicles" source="Orion">Society Of Manufacturers Of Electric Vehicles</keyword> (SMEV) also said there is a need to amend the PLI scheme for automobile and auto components, as in its current form there is an "unfair price disadvantage" for small and medium-size EV players in the industry. "To create a robust ecosystem for electric vehicles and give a boost to the EV market, the government could look at putting EVs in the priority lending sector. It will help citizens afford EVs at lower interest rates," SMEV said in a statement. Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> is scheduled to present the Union Budget for FY 2022-2023 on February 1. Stressing on the need for R&amp;D in battery manufacturing, the body of EV makers said, "unless we work seriously and diligently on EV batteries, we will end up in a situation similar to, if not worse than, our dependence on crude oil." The current level of research is abysmally low, diluted, and scattered, it said adding, "the government could allocate sufficient funds for R&amp;D in a public-private partnership mode with a time-bound objective to create EV batteries that are less dependent on offshore minerals and best suited to the Indian condition." The PLI scheme for Advanced Chemistry Cell (ACC) can be suitably amended to incentivise the R&amp;D efforts, it added. SMEV said while the scheme will certainly have incentives for the large players, it is also creating an unfair price disadvantage for small and medium-size EV players who are not qualifying for the incentives under the scheme due to their size, turnover, and backgrounds. "Hence, we request the government to create a level playing field through amendments in the scheme so that MSME EV players, all the pre-existing and new players can also participate," it said. Under the current PLI scheme for automobile and auto components, among other criteria, an automobile company or group firm with existing presence in India or globally needs to have a minimum of Rs 10,000 crore revenue, while for auto components, the minimum revenue requirement is Rs 500 crore. On the other hand, for new non-automotive investor companies or group companies, which are currently not in automobile or auto component manufacturing business, such entities should have a global net worth of Rs 1,000 crore based on audited financial statements for year ending March 31, 2021. The industry body also sought export concessions for EVs in order to make manufacturers in India cash in on the growing demand for such vehicles across the globe. "Some incentives can be extended in the form of subsidies to be enjoyed by domestic consumers for exporting such vehicles to get a global stamp on electric vehicles. This is a large space that Indian industries can capture before international players invade the market with cheaper contraptions," SMEV asserted. Besides, in order to promote EVs, SMEV also mooted a citizen reward programme for EV users which can be used at various establishments and occasions to access fast track services or acquire points for the rewards and inclusion of clean air campaign in Swachh Bharat mission. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a> <a href="https://www.businessinsider.in/business/auto/news/tesla-is-facing-a-lot-of-challenges-in-entering-the-indian-market/articleshow/88868786.cms">Tesla is facing a lot of challenges in entering the Indian market, says Elon Musk</a> <a href="https://www.businessinsider.in/business/auto/news/jaguar-land-rover-sales-are-still-down-but-analysts-say-tata-motors-is-healing/articleshow/88867893.cms">JLR sales are still down but analysts say Tata Motors is healing</a>

Bring EV financing under priority sector lending, urges SMEV

<keyword id="4233468" type="General" weightage="80" keywordseo="mg-motor-india" source="Orion">MG Motor India</keyword> on Wednesday said it plans to offer majority stakes to local partners over the next 2-4 years as part of a five-year business roadmap in the country. <keyword id="5287148" type="General" weightage="100" keywordseo="mg-motor" source="Orion">MG Motor</keyword> is a British brand which is currently owned by China's largest automaker <keyword id="317281" type="General" weightage="20" keywordseo="saic-motor-corp-" source="Orion">SAIC Motor Corp.</keyword> The automaker, which has lined up Rs 5,000 crore to expand operations in the country by 2028, has been looking to raise capital for sometime now to fund its next phase of growth. The company's plans to bring in more capital to the country from its Chinese parent have not been successful so far. As per industry sources, the automaker has been waiting for government approval for around two years now and has therefore started looking for other options to raise capital. Elaborating on its roadmap, the company said it has plans to set up its second manufacturing plant in the country, taking its installed capacity to 3 lakh units per annum and roll out new products for the domestic market, including electric vehicles, as part of its five-year business roadmap in the country. The company currently rolls out products from its manufacturing plant in <keyword id="6389723" type="General" weightage="20" keywordseo="halol" source="Orion">Halol</keyword>, Gujarat, which it had acquired from <keyword id="4581" type="General" weightage="50" keywordseo="general-motors" source="Orion">General Motors</keyword>. The Halol plant can produce up to 1.2 lakh units per year. The automaker said it aims to launch 4-5 new cars in the country, with a focus on EVs. The company expects its EV portfolio to contribute up to 65-75 per cent of total sales in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, it noted. The automaker said it is also exploring setting up cell manufacturing and hydrogen fuel-cell technology through joint ventures or third-party manufacturing. With expansion plans in place, the automaker aims to have a total workforce of 20,000 by 2028. "The company's unwavering dedication to India is deeply ingrained in our <keyword id="16833980" type="DOMAIN" weightage="20" keywordseo="ethos" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="ethos" meta.entityname="Ethos Ltd." meta.entityid="23844" meta.seoname="ethos-ltd">ethos</keyword>. As we pave the way for our next phase of sustainable growth, we have outlined a clear roadmap and vision for 2028. Our growth strategy is centred around strengthening localisation, aligning more closely with the government's 'make in India' initiative while innovatively augmenting our promise consistently, and diligently meeting the evolving needs of the market," MG Motor India CEO <keyword id="17374417" type="General" weightage="50" keywordseo="emeritus-rajeev-chaba" source="Orion">Emeritus Rajeev Chaba</keyword> stated. He further said that the automaker is committed to making a positive impact on society. Chaba also highlighted the company's focus on promoting gender diversity. The company said it aims to train 1,00,000 students under its 'MG Nurture' programme. The students will be trained in EV, <keyword id="2572482" type="General" weightage="50" keywordseo="adas" source="Orion">ADAS</keyword> and connected car technologies. MG Motor India sells models like <keyword id="1027495" type="General" weightage="50" keywordseo="hector" source="Orion">Hector</keyword>, Astor, <keyword id="1218145" type="DOMAIN" weightage="20" keywordseo="gloster" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="gloster" meta.entityname="Gloster Ltd." meta.entityid="12267" meta.seoname="gloster-ltd">Gloster</keyword> and ZS EVs in the market. It recently introduced a small EV, Comet, in the domestic market. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/top-10-fastest-fifties-in-ipl-history/slidelist/100126211.cms">Top 10 fastest fifties in IPL history</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/investment-supertrends-2023-ai-to-digitalisation-and-green-energy/articleshow/100126382.cms">AI to digitalisation and green energy: Supertrends defining investment for today and the future</a>

MG Motor India plans to dilute majority stakes to local partners

<ul><li>Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April.</li><li>Market leader <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India dispatched 1,37,320 units to dealers last month against 1,21,995 units in April last year.</li><li><keyword id="108829" type="General" weightage="80" keywordseo="hyundai-motor-india" source="Orion">Hyundai Motor India</keyword>, on the other hand, sold 49,701 units in April compared to 44,001 units in the year-ago period.</li></ul>New Delhi, May 12 (PTI) Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April as demand remained robust across segments, industry body SIAM said on Friday. The total passenger vehicle dispatches from companies to dealers rose to 3,31,278 units last month compared to 2,93,303 units in April 2022. Market leader Maruti Suzuki India dispatched 1,37,320 units to dealers last month against 1,21,995 units in April last year. Hyundai Motor India, on the other hand, sold 49,701 units in April compared to 44,001 units in the year-ago period. Similarly, two-wheeler dispatches last month increased by 15 per cent to 13,38,588 units from 11,62,582 units a year ago. <keyword id="17392672" type="General" weightage="80" keywordseo="motorcycle-wholesales" source="Orion">Motorcycle wholesales</keyword> rose to 8,39,274 units last month from 7,35,360 units in April 2022. Similarly, scooter dispatches rose to 4,64,389 units in April against 3,88,442 units in the year-ago period. The total three-wheeler sales rose to 42,885 units last month from 20,997 units in April 2022. "All the segments, passenger vehicles, two-wheelers and three-wheelers have posted growth in April 2023, compared to April 2022, which clearly indicates that the industry has been able to transit very smoothly to BSVI Phase 2 emission norms from April 1 2023," Society of Indian Automobile Manufacturers (SIAM) President <keyword id="230167" type="General" weightage="80" keywordseo="vinod-aggarwal" source="Orion">Vinod Aggarwal</keyword> stated. As the industry gradually gets into the monsoon season, among other factors, good rainfall can also help the sector sustain its growth, he added. SIAM Director General <keyword id="217489" type="General" weightage="80" keywordseo="rajesh-menon" source="Orion">Rajesh Menon</keyword> said the sales of passenger vehicles last month were the highest ever in April. Two-wheelers also posted a growth of 15 per cent in April 2023 compared to last year, while the domestic sales of three-wheelers have reached nearer to the pre-COVID levels in April, he added. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/artificial-intelligence-takes-center-stage-at-google-i/o-here-are-all-the-ai-announcements-made-at-the-annual-conference/articleshow/100151380.cms">Artificial Intelligence takes center stage at Google I/O: Here are all the AI announcements made at the annual conference</a>

Passenger vehicle dispatches rise 13% in April as demand remained robust: SIAM

New Delhi, Dec 11 () <keyword id="9738461" type="UNKNOWN" weightage="20" keywordseo="passenger-vehicle-wholesales">Passenger vehicle wholesales</keyword> in India increased by 12.73 per cent to 2,85,367 units in November as against 2,53,139 units in the same month last year riding on the back of festive demand, <keyword id="10116109" type="UNKNOWN" weightage="20" keywordseo="auto-industry-body-siam">auto industry body SIAM</keyword> said on Friday. According to the latest data by <keyword id="8927894" type="COMPANY" weightage="20" keywordseo="the-society-of-indian-automobile-manufacturers">the Society of Indian Automobile Manufacturers</keyword> (SIAM), two-wheeler sales rose 13.43 per cent to 16,00,379 units, compared with 14,10,939 units in the same month last year. <keyword id="440917" type="PERSON" weightage="20" keywordseo="motorcycle-sales">Motorcycle sales</keyword> were at 10,26,705 units as against 8,93,538 units in November 2019, up 14.9 per cent. Scooter sales were also up by 9.29 per cent at 5,02,561 units from 4,59,851 units in the same month last year. Three-wheeler sales, however, declined by 57.64 per cent to 23,626 units last month as against 55,778 units in November 2019. "We have witnessed an increase in wholesale numbers in the month of November, where passenger vehicles grew by 12.73 per cent and two-wheelers by 13.43 per cent over the corresponding month of last year, primarily on account of the festive season," SIAM Director General Rajesh Menon said. The retail sales of two-wheelers lag behind the wholesale sales numbers but would even out over a period, as original equipment manufacturers (OEMs) engage with their dealers, he added. "While the festive season brought back some fervor in specific segments, the overall economic scenario would determine the industry's performance going forward," Menon noted. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/8-5-billion-tvs-group-restructures-ownership-of-group-companies-to-scrap-holding-company/articleshow/79672828.cms">$8.5 billion TVS Group restructures ownership of group companies, to scrap holding company</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-is-worth-more-than-the-3-largest-hotel-chains-combined-after-its-stock-popped-143-on-its-first-day-of-trading/articleshow/79672395.cms">Airbnb is worth more than the 3 largest hotel chains combined after its stock popped 143% on its first day of trading</a>

Festive boost: Passenger vehicle sales jump 13% in November, two-wheelers rose 14%

<div type="image" title="One Planet Banner Test" height="138" width="1100" msid="101402909" hostid="261" sizebytes="5076"></div>Do you remember your very first cellphone?Where is it now? Maybe you passed it on to a friend, traded it in for an upgrade, or sold it. Maybe it's still lurking somewhere in your home, abandoned in a drawer.It takes a lot of resources to make a smartphone. It's estimated that the production of a typical smartphone uses around <a href="https://www.twosides.info/wp-content/uploads/2018/05/mind-your-step-report-76803.pdf" target="_blank" rel="noopener">12,760 liters of water,</a> which is equivalent to around 160 bathtubs full of water. The manufacturing process is energy-intensive, too, with the production of an average smartphone emitting 60 kilograms of carbon dioxide, <a href="https://green-alliance.org.uk/wp-content/uploads/2021/11/Design_for_a_circular_economy.pdf" target="_blank" rel="noopener">according to Green Alliance</a>, an independent think tank focused on environmental policy. It's not just smartphone manufacturing that has a big environmental impact. <a href="https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions" target="_blank" rel="noopener">According to the Environmental Protection Agency,</a> manufacturing is the third-largest contributor to US greenhouse-gas emissions, after transportation and electric power. The sector also accounts for 25% of the nation's energy consumption.More often than not, the products we consume have been made from newly extracted materials. The amount of resources that we extract has <a href="https://www.circularity-gap.world/global" target="_blank" rel="noopener">more than tripled since 1970</a>, with global material consumption totaling <a href="https://www.circularity-gap.world/2020" target="_blank" rel="noopener">more than 100 billion tons every year.</a> But while consumption rates have shot up, recycling rates have remained low. Just <a href="https://www.theguardian.com/environment/2020/jan/22/worlds-consumption-of-materials-hits-record-100bn-tonnes-a-year" target="_blank" rel="noopener">8.6% of the materials that we consume each year are recycled.</a><h2>Could a circular economy make a difference?</h2>Some industry leaders think there's a solution for cutting down on waste and reducing greenhouse-gas emissions at the same time: the circular economy. Try to visualize it. Right now, we have a linear system. We extract materials, make them into products, use the products, and then dispose of them. The Ellen MacArthur Foundation, a charity committed to creating a circular economy, calls this a <a href="https://ellenmacarthurfoundation.org/topics/circular-economy-introduction/overview" target="_blank" rel="noopener">"take-make-waste" system</a>. Think back to your first cellphone: It's probably at the "waste" stage right now.The idea of a circular economy is to take that "straight line" system and turn it into a closed loop. The basic idea is to keep materials in the loop for as long as possible. Imagine if components from your first cellphone were extracted and used in your current one, or if it was easy to upgrade and repair your first cellphone so you could still use it today.<a href="https://www.circularity-gap.world/global" target="_blank" rel="noopener">Research by the Circularity Gap Reporting Initiative</a> found that only 7.2% of the global economy is currently circular.There are several ways to create a circular economy. It starts with designing products that last as long as possible and are easy to repair. Once a product can no longer be repaired, it can be remanufactured — which is when you disassemble a product and make a new version of the product with used parts. Recycling — when materials are repurposed into a new product and put back together again — is the final step. When you recycle, you are using waste as a resource.Alice Bodreau, the partnership lead at the Ellen MacArthur Foundation, said that there are three pillars of a circular-economy strategy: developing products that don't create waste and pollution, circulating the materials that you put on the market, and regenerating nature.Anne Velenturf, a senior research fellow at the University of Leeds, told Insider that adopting a circular economy does not mean that consumers lose out. "Research has shown that we can all still live a good-quality life when resources are better shared across society," she said.<h2>Waste is a resource</h2>Recycling doesn't just tackle our waste problem; it helps to reduce greenhouse-gas emissions. That's because recycled materials skip a large part of the energy-intensive extraction and manufacturing process. The production of recycled steel, for instance, requires <a href="https://ellenmacarthurfoundation.org/completing-the-picture" target="_blank" rel="noopener">10% to 15% of the energy required to produce new steel.</a>The issue, though, is that not everything is easy to recycle. Think about the phone or computer that you're reading this article on. It's made up of lots of different materials and minerals.This problem is something that Peter Afiuny was thinking about when he cofounded the magnet-manufacturing company <a href="https://noveon.co" target="_blank" rel="noopener">Noveon</a>. "In the late '80s and early '90s, all of the stuff that we were consuming as a society started to become more complex in its product, in terms of the components that are used," Afiuny told Insider. "The waste industry didn't really catch up to how to extract the more critical components."Afiuny, who had previously worked in the recycling industry, wanted to find an efficient way to "surgically extract" components that would otherwise be discarded.Cue the creation of Noveon, a company that manufactures rare-earth magnets from recycled materials. According to Afiuny, postconsumer recycling rates for rare-earth magnetic materials are less than 3%. The traditional "mine-to-magnet" process consists of a lot of energy-intensive and waste-intensive steps and uses potentially dangerous chemicals. "We essentially invented a process that bypassed all of these upstream methods," Afiuny said.Many things need permanent magnets, including products that are essential for the green transition such as electric vehicles and wind turbines."Most of our magnetic materials come from end-of-life channels, so that includes motors, energy systems, medical devices, data-storage devices like hard disk drives," Afiuny said.Afiuny told Insider that he saw Noveon's manufacturing approach as part of a wider shift in the industry. "I think that there is just more generally a trend towards developing regional supply chains, especially as companies are becoming global entities and they're looking for ways to reduce their carbon footprint," he said.<h2>Design matters</h2>Bodreau said that there's more to the circular economy than recycling."Recycling is like you have a water leak in your house and you just go and directly mop it up and try to mop everything up before doing anything else," she said. "While the circular economy is about putting the tap off and actually addressing the leak itself, and not just mopping the floor and keeping on mopping the floor forever and ever."One way to "turn the tap off" is through design. Bodreau said it's about "redesigning the way you operate and the way your product is designed that it will never end up as a leak in the world."That's the principle the electronics company <a href="https://www.fairphone.com/en/" target="_blank" rel="noopener">Fairphone</a> is putting into practice. Based in Amsterdam, the company manufactures just two types of products: smartphones and headphones. Their smartphones aren't glued shut and are easy to disassemble, which makes them much easier to repair."Seventy-five percent of the emissions connected to a smartphone occur during production," Anna Jopp, Fairphone's press officer, told Insider. "To us, this means that the most efficient way to reduce the emissions caused by smartphones is to produce less phones. And the way to achieve this is to use the phones we already have for as long as possible."If you keep your phone for five years instead of three you could reduce the phone's annual carbon footprint by 31%, Jopp said.Since phone longevity is key, Jopp said Fairfone tries to encourage people to keep their phones as long as possible by making products that are modular by design and easily repairable. "The longer a product is used, the fewer new products we need to manufacture and the less resources we use," she said.<h2>The renewable challenge</h2>The Ellen MacArthur Foundation estimates that there will be <a href="https://ellenmacarthurfoundation.org/articles/we-need-to-talk-about-renewables-part-1" target="_blank" rel="noopener">43 million tons of wind-turbine blade waste by 2050.</a> Meanwhile, the Renewable Energy Agency estimates that there will be up to <a href="https://www.irena.org/publications/2016/Jun/End-of-life-management-Solar-Photovoltaic-Panels" target="_blank" rel="noopener">78 million tons of solar-panel waste</a> by 2050. The renewable-energy industry presents a new challenge for the circular economy, and the UK company ReBlade is trying to get ahead of the game. ReBlade's cofounder Fiona Lindsay told Insider that the team wanted to stop material from wind turbines from going to landfills. While many parts of wind turbines can be recycled, the wind-turbine blades are made from fiberglass, a nonbiodegradable manufactured composite that is extremely difficult to recycle. The company is working on solutions to repurpose wind-turbine blades when they can no longer be used to generate power. Their flagship project uses decommissioned blades to create canopies that provide shelter at electric-vehicle charging points.Lindsay said that the "newness" of the sector was a big obstacle. "Until now, blades have only needed to come down in tiny numbers, perhaps because of damage," she said."In the years ahead, blades will come down in their thousands as whole wind-farm sites are repowered with bigger turbines," she said. "What that means is that the owner-operators of sites don't, as of yet, have standardized approaches to procurement or blade-removal operations.""It takes a tremendous amount of energy and resources to produce the blades in the first place, so we believe reusing them is a better option," Lindsay said.<h2>A 'win-win' solution</h2>Velenturf said that there were many benefits for companies adopting circular-economy principles, including accessing new markets and customers and increasing the security of material supplies, which reduces risks and costs.Policymakers are starting to catch on to circular solutions, too. In June, representatives from 180 countries met in Paris and discussed a global treaty to regulate plastics. Bodreau described the meeting as a "big, big way forward." Meanwhile, New York state's recent <a href="https://www.governor.ny.gov/news/governor-hochul-signs-digital-fair-repair-act-law" target="_blank" rel="noopener">Digital Fair Repair Act</a> aims to make it easier for consumers to access the parts and information needed to repair their electronic devices.For Lindsay, the circular approach is a no-brainer. "We have a finite amount of resources so we need to find innovative new ways to reuse resources through second- or even third-life uses after they have been used in their initial applications — a win-win for everybody."This article is part of "<a href="https://www.businessinsider.com/category/the-great-transition" rel="">The Great Transition</a>," a series covering the big changes across industries that are leading to a more sustainable future. For more climate-action news, visit Insider's <a href="https://www.businessinsider.com/one-planet" target="_blank" rel="noopener">One Planet</a> hub.

How the circular economy could solve the smartphone-waste problem — and curb the manufacturing industry's carbon footprint, too

The <keyword id="654379" type="General" weightage="20" keywordseo="Indian-automobile-industry" source="Orion">Indian automobile industry</keyword> is setting out on a journey with hopes for a sustained growth momentum in <keyword id="3249892" type="General" weightage="20" keywordseo="2023" source="Orion">2023</keyword> and further embracing clean technology amid the lurking speed breakers of rising interest rates and cost increases due to new emission and safety norms, having witnessed a strong comeback from the COVID-led downturn this year. While the passenger vehicles (PV) segment is set for record sales in 2022 despite the lingering effects of supply chain constraints and semiconductor shortages, the two-wheeler space is yet to see sustained sales buoyancy after having suffered for most of the year. According to industry estimates, PV sales can reach around 38 lakh units this year. The three-wheelers and commercial vehicles segments have also witnessed good growth in 2022 compared to 2021, albeit on a low base of last year, which was affected by the second wave of COVID-19 and manufacturers will be keen to carry forward the momentum to the new year. As per industry observers, 2023 will also see acceleration in adoption of electric vehicles, which has already started taking root in 2022, especially in the two-wheelers segment. For potential passenger vehicle buyers, 2023 may not ring in the best news as vehicle prices are set to increase next year as companies prepare to conform to stricter emission norms which kick in from April 1, 2023. Many manufacturers like <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword>, <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> and Hyundai have already announced plans to increase prices from January next year. Besides, rising interest rates and not so bright global economic situation and its impact on India in the days to come are some of the factors which are keeping the industry in a cautious mode. "Increase in price always has a certain negative impact on sales. But we still do not know how much the prices will go up and what will happen to input cost and foreign exchange. These are uncertainties which will always be there," Maruti Suzuki India Chairman R C Bhargava told PTI. He, however, stated that the domestic car industry has revived in the last few months and the semiconductor shortages are also going to abate in 2023. "Putting it all together, our estimate would be that next year would probably be a reasonably good year for the industry. I think we should do at least as well if not better than 2022," Bhargava said. The country's largest carmaker will keep bringing in cars, especially more SUV models, to cater to the customer demand, he noted. Industry body Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon said the passenger vehicle industry adopted the second phase of fuel efficiency regulations this year from April 2022 and is gearing up to meet the stringent second phase of BS VI emission norms from April 2023. Discussions are also underway to implement various new safety regulations for passenger vehicles in 2023, he said. "Implementation of these new regulations could raise the cost of the vehicles and this coupled with global recessionary trends are of concern going forward in the year 2023," Menon pointed out. Besides, with rising inflation, the RBI was compelled to increase the repo rates a couple of times this year and this increase in interest rate can impact the demand trends for all vehicle segments, he cautioned. Though the overall numbers from January to November 2022 have shown appreciable growth for all segments including passenger vehicles, this has been achieved in the backdrop of a low base in 2021, which was affected by the second wave of COVID-19, Menon stated. Mahindra &amp; Mahindra (M&amp;M) Executive Director (Auto and Farm Sectors) Rajesh Jejurikar, however, remained confident about the industry maintaining the current sales momentum. "At M&amp;M, all models will comply with BS-VI.2 norms as per timelines set by the government and the price / cost difference may not be as steep as it was for the BS-IV to BS-VI transition," he asserted. While acknowledging that the semiconductor shortage continues to be dynamic and rising input costs and interest rates are some other challenges that the industry is managing, he remained optimistic about sales momentum continuing next year. "Apart from these headwinds, we look forward to an action-packed 2023 on the back of huge demand from customers," Jejurikar said. Tata Motors Managing Director - Passenger Vehicle and Electric Vehicles Shailesh Chandra pointed out that it would be worthwhile to see the impact of macroeconomic factors like inflationary pressure on the industry. "I would say that the growth is going to be high this year but next year on a very high base, with the interplay of so many tailwinds and headwinds, it would be still growth, but to what extent that growth would be on the high base, that will be seen," he noted. Kia India Chief Sales Officer Myung-sik Sohn said stricter emission norms are a positive for the industry's collective efforts of trying to minimise pollution from vehicles. However, they will surely have an impact on vehicle prices. "You will see a hike in prices across all OEMs, but looking at the high demand for cars currently, we expect little impact on sales momentum," he noted. Automotive dealer's body Federation of Automobile Dealers Associations (FADA) noted that the PV segment still continues to hold a strong order book for several models which is expected to continue for a few months. "The OEMs (original equipment manufacturers) need to continue with the creation of excitement through new launches, product upgrades etc... We expect the production soon to be back to normal and we can bring down the long waiting period to normal," FADA President Manish Raj Singhania stated. The long waiting period and flexible consumer behaviour during the festive season have helped the industry to see movement in the segment, but once the demand and supply balance is restored, the slow-moving models will be a challenge for the industry, Singhania said. Commenting on the sales growth outlook, ICRA Vice President and Sector Head Corporate Ratings Rohan Kanwar Gupta said the rating agency expects the industry demand to remain steady and volumes to grow by 6-9 per cent in FY2024. "The capex outlay for OEMs is estimated to remain heightened (an estimated outlay of Rs 650 billion over FY2023-FY2025, with the OEMs also budgeting for a substantial outlay towards new product development, including development of capabilities/platforms for electric vehicles," he added. Elaborating on the luxury car segment, Mercedes-Benz India's outgoing Managing Director and CEO Martin Schwenk said, "We have to see how the overall overall economic climate is there. Overall, confidence is there that 2023 should be a good year. The world is dynamic but at the moment, we are starting with a positive momentum into next year." As for the two-wheeler segment, Menon said while an increase in interest rate can impact the demand trends for all vehicle segments, the government has also hiked the long-term insurance premium, which specifically impacts the two-wheeler segment. "Two-wheeler demand has remained weak over the past few years, with consumer sentiments impacted by factors such as income uncertainty during the pandemic period and a persistent hike in two-wheeler prices led by both regulatory changes and inflationary pressures," ICRA's Gupta said.

Auto industry looks to sustain growth momentum in 2023

Leading commercial <a href="http://www.businessinsider.in/Indian-auto-industry-targets-to-create-6-5-crore-jobs-in-next-ten-years/articleshow/55470540.cms">vehicle makers of India</a>, such as <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, <keyword id="6357085" type="PERSON" weightage="20" keywordseo="Ashok-Leyland">Ashok Leyland</keyword> and <keyword id="6357096" type="COMPANY" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword>, along with and two-wheeler majors Hero MotoCorp, Honda and TVS will have to bear the brunt of <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword>’s <a href="http://www.businessinsider.in/sc-bans-sale-registration-of-non-bs-iv-compliant-vehicles/articleshow/57892438.cms">ban on BS-III vehicles</a>. 
 
The ban, which will be implemented from April 1, would leave the Indian auto industry with a near-junk inventory worth over Rs 12,000 crore. 
 The ban will disallow sale and registration of all <keyword id="4283805" type="UNKNOWN" weightage="20" keywordseo="BS-III-Vehicles">BS-III vehicles</keyword> from April 1. 
 
Vehicle dealers will also have to face inventory holding costs and possible delays or defaults in bank loans that they had taken to buy stocks. 
 
To avoid these losses, the companies had asked to be allowed selling the existing BS-III vehicles that had already been made and dispatched to dealers. However, SC did not compromise with its decision, which would result in less pollution and more efficiency. 
 
Also read: <a href="http://www.businessinsider.in/This-is-how-auto-makers-and-startups-are-teaming-up-to-bring-out-biggest-innovative-ideas/articleshow/54918782.cms">This is how auto makers and startups are teaming up to bring out biggest, innovative ideas</a> 
 
As on March 20th, the total inventory of commercial vehicles, two-wheelers, three-wheelers, and passenger vehicles combined was 8.24 lakh units; while some would have been sold, a major share of this number would go junk April onwards. 
 "Auto industry, anywhere in the world, requires a stable and predictable policy which allows for long-term planning and investments," said <keyword id="2326915" type="ORGANIZATION" weightage="20" keywordseo="Society-of-Indian-Automobile-Manufactures">Society of Indian Automobile Manufactures</keyword> (<a href="http://www.businessinsider.in/markets/budget2016/manufacturing/auto/SIAM-wants-Excise-Duty-on-Large-Cars-and-SUVs-slashed/articleshow/50996481.cms">SIAM</a>) president Vinod Dasari. 
 
Also read: <a href="http://www.businessinsider.in/car-base-models-to-have-airbags-ABS-speed-warning-systems/articleshow/52552702.cms">From 2018 on, all car models in India to have airbags, ABS &amp; speed-warning systems</a> 
 
What’s surprising is that even as commercial vehicle makers knew that BS-III vehicles could be banned from April, they kept on manufacturing these vehicles. 
 
Now, they are left with only a few options, like upgradation of vehicles to BS-IV (if possible), or exporting them to countries that accept them. Both measures mean a good amount of cash outflow. 
 
(Image source: India Ink)

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